New Jersey lawmakers are working on legislation that would create a new authority to oversee the redevelopment of Fort Monmouth as the U.S. Army plans to leave the nearly 1,200-acre base in 2011.

The bill, S. 10, would allow a new entity, the Monmouth Economic Revitalization Authority, to execute the area’s revitalization plan and craft a business strategy to address economic impacts, job creation, and a financing plan. The Senate Committee on Economic Growth unanimously approved the measure last week.

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